1832 Asset Management L.P. Increases Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

1832 Asset Management L.P. increased its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,047,747 shares of the company’s stock after purchasing an additional 47,747 shares during the quarter. 1832 Asset Management L.P. owned about 0.60% of DigitalBridge Group worth $20,190,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Nordea Investment Management AB bought a new stake in DigitalBridge Group during the first quarter worth about $3,214,000. Thornburg Investment Management Inc. lifted its stake in shares of DigitalBridge Group by 61.8% in the 4th quarter. Thornburg Investment Management Inc. now owns 683,817 shares of the company’s stock valued at $11,994,000 after acquiring an additional 261,080 shares during the last quarter. GRS Advisors LLC lifted its stake in shares of DigitalBridge Group by 23.7% in the 4th quarter. GRS Advisors LLC now owns 1,534,820 shares of the company’s stock valued at $26,921,000 after acquiring an additional 293,987 shares during the last quarter. Sei Investments Co. lifted its stake in shares of DigitalBridge Group by 77.9% in the 1st quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock valued at $5,836,000 after acquiring an additional 132,638 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of DigitalBridge Group by 311.5% in the 4th quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after acquiring an additional 355,524 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DBRG has been the subject of a number of recent research reports. Truist Financial lowered their target price on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $17.00 target price (down previously from $21.00) on shares of DigitalBridge Group in a research note on Tuesday, June 18th. B. Riley reduced their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 target price on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods cut their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $20.54.

DigitalBridge Group Trading Up 2.1 %

DBRG stock traded up $0.30 during midday trading on Friday, hitting $14.29. The company’s stock had a trading volume of 775,650 shares, compared to its average volume of 1,562,775. The company has a market cap of $2.48 billion, a PE ratio of 9.22, a P/E/G ratio of 1.42 and a beta of 2.00. DigitalBridge Group, Inc. has a 12 month low of $12.12 and a 12 month high of $20.99. The firm’s 50-day moving average is $13.36 and its 200-day moving average is $16.42.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The business had revenue of $74.39 million during the quarter, compared to the consensus estimate of $100.76 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. Analysts expect that DigitalBridge Group, Inc. will post 0.28 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Sunday, June 30th were given a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.28%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

DigitalBridge Group Profile

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.